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20 March 2023
New Zealand’s largest locally owned life insurer Fidelity Life has had its A- (Excellent) financial strength rating* affirmed by AM Best, marking 27 consecutive years since it first received the rating in 1996.
AM Best also affirmed the A- (Excellent) financial strength rating for Fidelity Insurance, the former Westpac Life business acquired by Fidelity Life in 2022.
The outlook for both ratings is stable.
According to AM Best the ratings reflect each entity’s respective ‘very strong’ balance sheet, adequate operating performance, neutral business profile and appropriate enterprise risk management.
Fidelity Life Group Chief Financial Officer Simon Pennington says: “These ratings are an important trust indicator for our customers and our advisers because they provide an expert, independent view of our financial strength and ability to pay claims.”
* Fidelity Life Assurance Company Limited and Fidelity Insurance Limited each have A- (Excellent) financial strength ratings from AM Best. The rating scale that these ratings form part of is available for inspection at our offices. For more information please visit Fidelity Life's financial strength web page.
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